Tractor Supply (NASDAQ:TSCO) Shares Down 2.5% Following Analyst Downgrade

Tractor Supply (NASDAQ:TSCO)’s stock price fell 2.5% on Wednesday after Evercore ISI lowered their price target on the stock from $295.00 to $290.00. Evercore ISI currently has an outperform rating on the stock. Tractor Supply traded as low as $258.69 and last traded at $259.50. 344,618 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 1,152,921 shares. The stock had previously closed at $266.03.

A number of other equities research analysts have also recently weighed in on TSCO. Wedbush restated a “neutral” rating and issued a $235.00 price target on shares of Tractor Supply in a report on Tuesday, April 23rd. Wells Fargo & Company upped their price objective on shares of Tractor Supply from $250.00 to $285.00 and gave the company an “overweight” rating in a research note on Monday, March 25th. Piper Sandler lifted their target price on shares of Tractor Supply from $265.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Truist Financial upped their price objective on shares of Tractor Supply from $277.00 to $289.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, JPMorgan Chase & Co. upped their price objective on Tractor Supply from $241.00 to $263.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Tractor Supply currently has an average rating of “Hold” and an average price target of $253.96.

Institutional Trading of Tractor Supply

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Tractor Supply by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 12,804,873 shares of the specialty retailer’s stock worth $2,753,432,000 after purchasing an additional 48,439 shares during the last quarter. Capital International Investors lifted its position in Tractor Supply by 7.6% in the fourth quarter. Capital International Investors now owns 6,233,852 shares of the specialty retailer’s stock worth $1,340,589,000 after purchasing an additional 439,954 shares during the period. Capital World Investors boosted its stake in Tractor Supply by 10.0% during the fourth quarter. Capital World Investors now owns 5,849,188 shares of the specialty retailer’s stock valued at $1,257,751,000 after buying an additional 531,170 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Tractor Supply by 63.2% during the 4th quarter. Wellington Management Group LLP now owns 4,606,455 shares of the specialty retailer’s stock valued at $990,526,000 after purchasing an additional 1,784,304 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Tractor Supply by 12.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,330,621 shares of the specialty retailer’s stock worth $871,691,000 after buying an additional 368,859 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Tractor Supply Stock Down 2.4 %

The stock has a fifty day moving average of $275.40 and a 200-day moving average of $251.29. The firm has a market capitalization of $27.98 billion, a price-to-earnings ratio of 25.90, a PEG ratio of 3.51 and a beta of 0.81. The company has a current ratio of 1.40, a quick ratio of 0.19 and a debt-to-equity ratio of 0.83.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data on Thursday, April 25th. The specialty retailer reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.13. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.40 billion. During the same quarter last year, the business posted $1.65 EPS. The company’s revenue was up 2.8% on a year-over-year basis. As a group, sell-side analysts expect that Tractor Supply will post 10.34 EPS for the current year.

Tractor Supply Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Tuesday, May 28th were given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend was Friday, May 24th. Tractor Supply’s payout ratio is presently 42.84%.

Tractor Supply Company Profile

Tractor Supply Company operates as a rural lifestyle retailer in the United States. The company offers various merchandise, including livestock and equine feed and equipment, poultry, fencing, and sprayers and chemicals; food, treats, and equipment for dogs, cats, and other small animals, as well as dog wellness products; seasonal and recreation products comprising tractors and riders, lawn and garden, bird feeding, power equipment, and other recreational products; truck, tool, and hardware products, such as truck accessories, trailers, generators, lubricants, batteries, and hardware and tools; and clothing, gift, and décor products consist of clothing, footwear, toys, snacks, and decorative merchandise.